TL;DR

Crypto is going lower - just a matter of when
- With crypto lender Genesis on the verge of bankruptcy, the next leg down could be anywhere between a couple days or a couple weeks from now
- It's impossible to time the market perfectly, but failing to prepare and preparing to fail
  - Adjust your risk levels accordingly
As usual, I cannot offer advice, but here's what I am doing:
- Dollar cost averaging here into 7 coins: Bitcoin, Polkadot, Cosmos, Polygon, Algorand, Chainlink, and Avalanche
- Very small amounts this round and will eventually narrow these down to 4 long term holds
Solana is unlikely to recover from the FTX fallout
Too many Layer 1 coins are testing support levels
- So a break down is immanent
Large Cap Layer 1 coins will eventually lose momentum
- Targets are set in the charts below

Bitcoin / $BTC

We saw multiple attempts on the lower-time-frame for Bitcoin to break out of resistance in the pennant but couldn't.
- This is bearish
Crypto lender Genesis is having a hard time raising funds to stay solvent. If they go bankrupt within the next few days (which is probable), we are likely to see a breakdown of this pennant to my $14k target. Perfect timing.

Polkadot / $DOT

With Bitcoin capitulation coming up, I am expecting another 25% drop in DOT to the next level of support between $3.90 and $4.20
I'm far more optimistic about 2023 rallies, especially with Polkadot hinting that the SEC cannot (and probably will not) classify their coin as a security.
- Cannot say the same about Ethereum
Price action hasn't been following any particular patterns
- It's been a slow crawl down
- Low volume price action moving with the larger market (but favoring downside)

Polygon / $MATIC

Playing off my thesis that Genesis goes insolvent and there's another capitulation:
- MATIC is having trouble breaking out of resistance
- The more price continues to test support at $0.776, the more likely price will break down below this level
- My target for more accumulation remains at the 50 to 60-cent range

Algorand / $ALGO

ALGO may capitulate quicker than most other coins
- Too many tests of support on the bear flag
- Price is favoring a leg down early
Possibility that the market is de-risking less popular coins like Algorand before selling off large-cap coins and tokens
Next level of support is at 18 cents

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